Poll: Would you use bitcoin?
Bitcoin buttons displayed on a table at the Inside Bitcoins conference in Berlin earlier this month. Bitcoin has no coinage, it is a virtual currency. Credit: AP / Frank Jordans
A major bitcoin exchange has apparently gone bust after racking up catastrophic losses. Other companies that trade in the virtual currency said Tuesday that the website of Mt. Gox, a Tokyo-based exchange, had disappeared, possibly causing hundreds of millions of dollars worth of losses.
Bitcoin enthusiasts were quick to call the incident an isolated case, and a variety of retailers have recently said they will accept bitcoin as payment, from Overstock.com to a Long Island bakery.
On bitcoin exchanges, the unregulated currency's value has ranged from $1,200 per bitcoin three months ago to $470 Tuesday.
Would you consider using bitcoin? Vote and leave a comment; a selection of comments will appear in next Sunday's business section.
Out East Show: LI Aquarium, Patty's Berries and Bunches, Palmer Vineyards NewsdayTV's Doug Geed shows us some great spots 'Out East' to visit this summer.
Out East Show: LI Aquarium, Patty's Berries and Bunches, Palmer Vineyards NewsdayTV's Doug Geed shows us some great spots 'Out East' to visit this summer.
